A good time to buy

Bray People - - PROPERTY MOVES -

IT’S a good time to buy property in County Wick­low. And the good news for sell­ers is that with the banks now look­ing more favourably to­wards those want­ing mort­gages, there is a back­log of would-be pur­chasers. Af­ter years in the dol­drums, prices have sta­bilised and auc­tion­eers say they are def­i­nitely head­ing into pos­i­tive ter­ri­tory.

The num­bers of auc­tions be­ing held has in­creased over the past year and for the first time since the crash some prop­er­ties are ex­ceed­ing their auc­tion es­ti­mates.

Brian Clarke, from Clarke Auc­tion­eers, in Ash­ford, said the mar­ket was buoy­ant.

‘There’s a huge amount of in­ter­est with a lot of view­ings and lots of trans­ac­tions,’ he said.

‘There are quite a few de­cent prop­er­ties around and there is de­mand for more.’

Mr. Clarke said prices are in­creas­ing too, not as much as it parts of Dublin, but they are on the up.

He said that com­pared to a year ago prices had risen be­tween five and 10 per cent, with room for more growth this year.

‘It’s purely de­mand driven - there is huge de­mand from first time buy­ers for prop­er­ties, three-bed semis, good qual­ity prop­er­ties in good lo­ca­tions,’ he said, adding that was driv­ing de­mand for fam­ily homes too.

‘There is huge de­mand for good qauli­ity fam­ily homes too. There is a se­ri­ous lack of good qual­ity fam­ily homes on the mar­ket.,’ said Mr. Clarke.

‘The mar­ket is only go­ing to in­crease. We’ve def­i­nitely reached the bot­tom now is a good time to buy or to put your property on the mar­ket.

‘We com­ing from three or four years when people couldn’t get their hands on prop­er­ties be­cause of the bank­ing cri­sis.. now that’s changed and we have a back­log of pur­chasers,’ he said.

The mes­sage from Sherry Fitzger­ald Myles Doyle is clear: ‘Any­body in­ter­ested in get­ting into the property mar­ket in South County Wick­low, take the plunge now, do not dally, tar­di­ness will cost you.

‘Ac­tiv­ity lev­els are mul­ti­ples of those in 2013, and the re­sults are as­tound­ing. In­creased view­ings will au­to­mat­i­cally lead to in­creased lev­els of sales, which we have seen through­out the first quar­ter of 2014.’

James Wood, from Dublin-based Auc­tion­eers GVA Donal O’Buachalla, said there was value to be had in Wick­low for people look­ing for land or a good home.

‘Wick­low town and county is pop­u­lar and people in Dublin are start­ing again to ven­ture out to places like Bray and Grey­stones and fur­ther out,’ he said. ‘There is a feel­ing that they might get bet­ter value for money and we’re get­ting a lot of in­quiries - par­tic­u­larly for where they might get more value for money.

Mr. Wood said cer­tain ar­eas of Bray and Gresy­s­tones were per ceived as be­ing par­tic­u­larly de­sir­able but the ever im­prov­ing trans­port links along the N11 and M11 meant that ar­eas fur­ther out of the cap­i­tal were con­sid­ered com­mutable.

‘We’re quite well con­nected now with the mo­tor­way and it’s get­ting bet­ter all the time.’

‘In a nut­shell, we’re do­ing bet­ter than we were a year ago in both sales and the prices be­ing achieved and long may it con­tinue,’ said Mr. Wood.

Pat O’Neill, from O’Neill and Flana­gan, which has of­fices in Aughrim and Rath­drum, said that had been an in­crease in de­mand for houses in the area since Novem­ber.

‘Prices have defin­tely bot­tomed out and there seems to be more view­ings, which is a good sign , and I’ve had a more pis­i­tive feed­back friom the lend­nig Agencies,’ he said.

‘They are in a po­si­tion now to deal with people seek­ing a mort­gage and that’s re­sult­ing in a def­i­nite rise.’

Mr. O’Neill said that there was strong de­mand for houses in the re­gion of €200,000 and there was also an in­crease in view­ings for big­ger prop­er­ties too, al­though move­ment in those cost­ing more than €300,000 was not as strong.

‘There is a slightly stronger de­mand in Dublin now and I’m get­ting a lot more in­quries.’

Mr. O’Neill said that be­cause of plan­ning re­stric­tions and the value to be had in houses that were al­ready built, sites were not a pop­u­lar op­tion.

‘You can buy a house cheaper than you can buy land, a house in the coun­try of 2,000 sq.fet for aroud €250,000 and that shows-what value is to be had,’ he said.

Peter Mills, from Peter Mills Property in Ark­low said the com­pany had seen a sig­nif­i­cant in­crease in mar­ket ac­tiv­ity in the first quar­ter of 2014 com­pared year on year to 2013.

‘This is fu­elled by a sta­bil­i­sa­tion of property prices and an in­crease in mort­gage ap­proved buy­ers in the mar­ket place.

‘As a re­sult of in­creased mar­ket ac­tiv­ity we now have a short­age of property in the Ark­low, par­tic­u­larly three and four bed­room fam­ily homes. As well as a short­age of property for sale there is a dis­tinct lack of property to let which is leading to a small but no­tice­able in­crease in rent prices,’ said Mr. Mills.

Ciara Slat­tery, from War­ren Es­tates in Gorey, was up­beat about the mar­ket, say­ing there were en­cour­ag­ing signs.

'There is great value at the mo­ment and with the poor re­turns in de­posit in­ter­est rates at the mo­ment people are look­ing to property again. Once prop­er­ties are priced re­al­is­ti­cally they are sell­ing and sell­ing well at the mo­ment. Con­fi­dence is com­ing back and hav­ing hes­i­tated for the last few years people are keen to buy again,’ she


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PEOPLE with property to sell would be well ad­vised to place their homes with the very best auc­tion­eers, those with a proven track record.

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